Menu
IMPAIRMENT OF ASSET
| Originally posted by :TOUFIK | ||
| " |
As per your company procedures and policies, your management will be decided to reassess the valuation of fixed assets for a certain period. This must be done by certified valuer. Accourding to that valurer decrease the any assest is called impairment of assets. According to that valuer value amount you must pass a JV in your books of accounts. Loss on Valuation of Assets a/c Dr To Fixed Assets
This is my knowledge only.
|
" |
If Recoverable amount of assets (ie. saleable value or present value of cash flow that concern asset can generate over a period of time) is less than carrying amount(ie. cost or Revalued amount) in the Balance sheet, then the difference is called impairment of Assets. So, we have to provide provision for impairment(ie. for the difference). Concern, provision has to debited to P&L a/c and then it has to reduced in the Concern asset.
Recent Topics :
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
- FY 2025-26 ITC CLAIM DUE DATE
- 96084000 and 48202000 HSN code ka Tax Rate kya hai
- Clarifications for intra day transactions
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
Related Topics :
CAclubindia
